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pls reply fast and accurate The following is selected information from the accounting records of Siow inc. for 20x9 as first year of operations Earnings
pls reply fast and accurate
The following is selected information from the accounting records of Siow inc. for 20x9 as first year of operations Earnings before income taxes $520,000 In determining pre-tax accounting earnings, the following deductions were made: Golf club dues b. Accrved warranty costs c. Depreciation 14,000 43,000 64.000 For tox purposes, the following deductions were made: a. Warranty costs incurred D.CC 34,00 123.cc a The capital assets, originally costing $640.000. are depreciated on a straight line basis over 10 years, zero residual value, with a full year of depreciation taken in YeartThe tax rate is 38% Required: Prepare the journal entry to record income tax at the end of 20X9. If no entry is required for a transaction event, select "No journal entry.required in the first account field.) Ventiliat B Required: Prepare the journal entry to record income tax at the end of 20X9. Of no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Step by Step Solution
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